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GiftLaw Pro Home   >  Chapter 4 - Specific Property Gifts  >  4.7 Land and Buildings  >  4.7.3 Environmental Issues  >  Basic Quiz

Basic Quiz - 4.7.3 Environmental Issues

1. If charity accepts a gift of real estate, then charity is now in the chain of title for environmental liability purposes.
           
2. Real estate is usually transferred using a beneficiary designation form.
           
3. Charities should have gift acceptance policies, especially for gifts of real estate.
           
4. Conducting an environmental impact survey (EIS) prior to accepting gifts of real estate can provide charity with peace of mind and an understanding of the risks, if any, involved.
           
5. The cost of an environmental impact survey (EIS) is always the responsibility of the donor.
           
6. A charity should simply refuse a gift of real estate if the environmental risks far outweigh the financial benefits.
           
7. If a donor gives real estate in exchange for a gift annuity, a charity will not have to worry about environmental liability issues.
           
8. A gift of real estate is complete for tax purposes once the donor irrevocably promises to make the gift.
           
9. Whenever real estate is used to fund a charitable remainder trust, charity should attempt to serve as trustee.
           
10. A donor may not serve as trustee of his or her charitable remainder trust because of the self-dealing rules.